Funding arb · Price arb /

QQQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.026%

Price spread now: RISEx against Orderly+0.044%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Orderly Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. RISEx is 0.044% dearer against Orderly than usual: you sell high and buy low (spread +0.044% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 35 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_QQQ_USDC_mythos	744.19	0.0100	pay 0.0100% / 8h	4h 34m	$12K	$21K	20x
Short	RISEx QQQ/USDC	744.52	0	get 0.0000% / 1h	34m 23s	$5.4M	$7.5M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx against Orderly. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee OrderlybpFee RISExbpOrdersPrice spread, now +0.044%Rate

Funding earned: −$21
Price spread: +0.044% → 0.000%: $4.41
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$28.59
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; RISEx: live order book, 5 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Orderly no order-book sample	—	—	—	—	—
Sell RISEx live order book, 5 min ago	0.34 bp	3.3 bp −$3	3.7 bp −$37	doesn't fit	doesn't fit

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

QQQ on 28 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps QQQ-USD.P	−0.0145%	1h	743.21	−0.132%	$4.2M	$1.8M	20x	as long as short
GMX QQQ/USD [ETH-USDC]	L −0.0122% / S +0.0222%	1h	744.47	+0.037%	$25K	—	26x	as long as short
Aster QQQUSDT	0.0000%	8h	744.41	+0.030%	$841K	$714K	20x	as long as short
Bybit QQQUSDT	0.0000%	8h	744.35	+0.021%	$10.7M	$5.0M	50x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	744.29	+0.013%	$21.5M	$26.9M	50x	as long as short
RISEx QQQ/USDCshort	0.0000%	1h	744.52	+0.044%	$5.4M	$7.5M	25x
Gate QQQ_USDT	0.0000%	8h	743.84	−0.047%	$3.3M	$20.8M	50x	as long as short
Bitget QQQUSDT	0.0000%	8h	744.61	+0.056%	$16.9M	$5.7M	20x	as long as short
SunX QQQ-USDT	0.0000%	8h	744.96	+0.103%	$2K	$1.9M	10x	as long as short
HTX QQQ-USDT	0.0000%	8h	744.81	+0.083%	$257K	$29K	30x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex QQQUSDT	0.0000%	8h	744.89	+0.094%	$362K	$1.5M	10x	as long as short
Variational Omni QQQ	+0.0002%	8h	744.38	+0.026%	$17.1M	$7.5M	—	as long as short
Coinbase International QQQ-PERP-INTX	+0.0008%	1h	743.96	−0.031%	$1.2M	$536K	20x	as long as short
BloFin QQQ-USDT	+0.0026%	8h	744.30	+0.015%	$1.1M	$271K	20x	as long as short
Lighter QQQ	+0.0032%	1h	744.26	+0.009%	$7.7M	$16.3M	30x	as long as short
Binance QQQUSDT	+0.0040%	8h	744.47	+0.038%	$71.1M	$141.8M	25x	as long as short
Arcus QQQ-USD	+0.0040%	1h	743.76	−0.058%	$700K	$1.6M	25x	as long as short
Vest QQQ-USD-PERP	+0.0046%	1h	745.45	+0.169%	—	$337K	50x	as long as short
Lighter RH QQQ	+0.0048%	1h	744.72	+0.071%	$36.9M	$78.9M	50x	as long as short
Nado QQQ-PERP	+0.0096%	1h	744.09	−0.013%	$1.5M	$876K	20x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	744.11	−0.011%	$3.4M	$388K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	744.11	−0.011%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythoslong	+0.0100%	8h	744.19	long leg	$12K	$21K	20x
Aevo QQQ-PERP	+0.0104%	1h	743.67	−0.070%	$93K	$1K	10x	as long as short
GRVT QQQ_USDT_Perp	+0.0110%	8h	744.62	+0.058%	$319K	$1.9M	10x	as long as short
Phoenix QQQ	+0.0129%	1h	744.01	−0.024%	$38K	$66K	20x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0274%	1h	744.41	+0.030%	$425K	$149K	20x	as long as short
edgeX QQQUSDC	+0.0680%	4h	744.36	+0.023%	$761K	$334K	20x	as long as short